jonathan webb appharvest net worth

He pointed out that, At NASA in the 60s, if you would go visit a facility and you walked up to a janitor and asked, What do you do here? they would say, Im working to put a man on the moon. Thats been the same mentality here Its the collective thats making this thing possible.. Were investing heavily Now, our job is to make sure it's at around the same price. To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. The last thing I would say to that is whether or not we want to do it or not, the world is changing and regulators are approaching back. He has many impressive accomplishments. We're selling to Kroger, we're selling in fast food chains like Wendy's. Prior to founding AppHarvest, Jonathan supported the Executive Director of the Army Office of Energy Initiatives to help meet the White House goal of supplying 20% of the Department of Defenses electricity usage from renewable Webb was named a World Rugby Council RFU representative in 2016. The SPAC opportunity, let you, I think, become a publicly traded company maybe sooner than you really felt like you needed to. We arent burning through cash with pointless R&D when we can buy incredible technologies over in the Netherlands, Webb says. But I dont think thats adding value to the company, or looking out for our shareholders, he said. US controlled environment agriculture (CEA) startup AppHarvest has announced a merger with NASDAQ-listed special purpose acquisition company (SPAC) Novus Capital, enabling it to go public. You came public a lot sooner or probably that you would have had the opportunity to even 10 years ago. Jonathan Webb, a Maryland attorney, has experience in criminal defense and DUI/DWI defense. You can also compare Dr. Webb with other orthopedic surgeons in Eau Claire to find the one that best suits your needs. Who were the most active food and agriculture technology venture capital firms in 2022. A specialist in knee surgery, Webb has performed countless surgeries in elite rugby union teams. We have a phenomenal growing team. Jonathan Webb: AppHarvest, we're based here in Central Appalachia and we're building some of the world's largest controlled environment agricultural facilities. Age : 37. Thank you for accessing our content on the Topio Networks Market Intelligence Center. Moser: Yeah, I'd tell you, I think you're right. While living in Washington D.C. developing sustainable energy farms, Jonathan researched another type of farming the Netherlands and its high-tech greenhouses that in a single acre yield as much as 10 outdoor acres and virtually eliminate the use of chemicals. With significant tailwinds from heightened investor focus on ESG initiatives and the secular shift to plant-based foods, we believe AppHarvest is well-positioned to execute on its strategy for rapid growth and value creation, he continued. Moser: Yeah. We're in that classic scenario of demand exceeding supply. Webb is a highly-respected knee surgeon in the United States. We need to change the profits versus purpose narrative; purpose drives profit and, ultimately, is what makes an organization durable and resilient for decades to come, Webb told Fortune. AppHarvest We have one farm right now thats 2.8 million square feet. sold to the top 25 U.S. grocers. We talk about how, How excited are you to bring that Root AI company in their leadership into your family? Public asset : 44,698,475 USD. could be sentient says Microsofts chatbot feels like watching the Shark Tank investor Kevin OLeary says a new generation of employee has never worked in an officeand its totally I cant afford to sell because I dont want to lose that rate: 3% mortgage rates will loom large over the U.S. CA Notice at Collection and Privacy Notice, Do Not Sell/Share My Personal Information. Jonathan Webb was born on 24 August 1963, in London, England. AppHarvest to go public, seeks $475m at $1bn valuation - AFN With a 19% stake, CEO Jonathan Webb is the largest shareholder. No one else in America is doing something at that scale. Theyre designed to be safe around people. Remember, you can always reach out to us on Twitter at @MFIndustryFocus, or drop us an email at [emailprotected] As always, people on the program may have interest in the stocks they talk about and The Motley Fool may have formal recommendations for or against, so don't buy or sell stocks based solely on what you hear. But if you look at all the problems in the agriculture system, this industry really solves most of those problems. *Average returns of all recommendations since inception. On Twitter, the actor shares his personal experiences with his followers. Never miss a story: Follow your favorite topics and authors to get a personalized email with the journalism that matters most to you. They ask themselves, Did we help five people today? AppHarvest which raised $28 million in its Series C round in August is launching what it describes as the worlds largest greenhouse later this year, consisting of a 2.76 million square foot facility in Morehead, Kentucky. What is AppHarvest to you? The method of farming uses technology like artificial intelligence and robotics to grow fruits and vegetables, producing 30 times the yield of traditional farming while using 90% less water, the company claims. At one point, we were thinking of putting up a billboard in front of several large tech company offices saying, Come build tech that matters, Webb said. Australian National University Alumni Founded Companies, Rashtrasant Tukadoji Maharaj Nagpur University Alumni Founded Companies, Seattle Pacific University Alumni Founded Companies, Regis University Alumni Founded Companies, Emory University Alumni Founded Companies, New Mexico State University Alumni Founded Companies, Oakland University Alumni Founded Companies, Oklahoma State University Alumni Founded Companies, Number of Organizations that the person founded, Algorithmic rank assigned to the top 100,000 most active People, The organization associated to the person's primary job, Where the person is located (e.g. Here, we've had three years out of the last ten years in Kentucky have been our wettest years on state record. He has become a prominent social media star. AppHarvest is a unique and compelling investment opportunity that is redefining American agriculture by improving access for all to fresh non-GMO produce, growing more with fewer resources, and creating an agtech hub from within Appalachia, Novus chairman Bob Laikin said in a statement. According to AppHarvest's earnings report released Feb. 24, the company had net sales of $9.1 million and net loss of of $166.2 million in 2021. His grandmother grew up in Whitley County, where a coal mining accident killed his great-grandfather. To do that and look out for the long term is true sustainability, or resilience., Webb, who began his career developing renewable energy projects for the U.S. Army, believes any company is either part of destroying the planet or part of rebuilding its industry to align with the planet: I think its our obligation as CEOs to build companies that create long-standing values.. The private markets can be a part of every solution we have that we're seeing today. Jonathan Webb, CEO, AppHarvest: AgTech Farming for Our In the latter, Webb was the only English player to score in the game. Powered and implemented by Interactive Data Managed Solutions. Jeff Ubben, Inclusive Capital Partners founder and AppHarvest investor, and Jonathan Webb, AppHarvest CEO, join 'Closing Bell' to discuss what makes AppHarvest There's going to be a lot of companies hopefully working to solve our food and agriculture problems. Other AppHarvest investors include TV cook Martha Stewart, VC veteran Peter Thiel, We are about to plant our first crop in a 60-acre, controlled environment, chemical-free farm. I love that passion. I know that you're not the only one focused on controlled environment agriculture. I'd tell you, we go through tomatoes, handover, [] in my house alone, I'm sure. His Twitter account is one of the most popular on the social network. They have 10% of the world's freshwater. Webb Net Worth Invest better with The Motley Fool. We had 22 meetings and had almost 20 yeses. Very few passed on this deal and we eventually had to cancel meetings.. To learn more about AppHarvest, you can visit appharvest.com. Which is important, because AppHarvest employs well over 300 people in its Morehead facility alone. But then it's pulling technology in to drive nature from behind. The business combination values AppHarvest at a $1.0 billion pro forma equity value, at the $10.00 per share PIPE price and assuming minimal redemptions by Novus Capital shareholders. I think we have seen some other players in the space that are starting. Running AppHarvest this way definitely creates extra workthe company even has facilitators who help employees navigate unexpected life events that might prevent them from coming to workbut its work Webb considers essential. There won't be one automotive company transporting the world. In order to do that, you have to have rigor. Jonathan strives to work alongside the hard-working men and women of Eastern Kentucky and build an inclusive economy for the future. Part of it is we're building companies not just for today and not just for the quarterly earnings call today, we're building this company for the next generation. Again, for their CEO, for their team to say to them not just about money, we can have more impact at scale with AppHarvest and achieve our mission and achieve our goals by working together. Webb: Well, the last great technological revolution in American farming is really when the tractor was introduced. Instead of just being able to tell a grocer 24-hours in advance here's the quality of product and here's when it will be shipped, with robotics going down the rows scanning the plants, we'll be able to get to days out and weeks out of being able to predict the yield, predict the quality, give more information to the grocer on when that product is going to be coming. FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. We always talk about investing for the future because that's really what investing is all about. AppHarvest Once operational, it will ship 45 million pounds of fresh produce annually to grocery stores in the Midwest and Southeast. I did want to know here because I saw this in the earnings release and I just thought it was one of those quotes that stood out to me from Mastronardi, your distributor. In our first month or two, we're already at all those outlets. The Kentucky-based agriculture tech company, which was founded in 2017, began trading on the Nasdaq in late February 2021 after completing a SPAC merger with Novus Capital Corporation. Jonathan Webb is an actor with a large following on Twitter. We're laser-focused on getting this right here. But I wonder, is there something to your mind? Opinions expressed by Forbes Contributors are their own. We dont see it as losing money for losing moneys sake; developing that tech is investing in our future.. When youre building tech for techs sake, you start to question what youre doing. If people remember that ice storm back in February, our facility operated, ramping up into full capacity with no issues in the middle of a global pandemic and the middle of an ice storm. KY-based AppHarvest admits serious concerns about its No one else in America is doing something at that scale. Investors look at that, Peter Halt, AppHarvests newly appointed chief financial officer, told, Step aside, alt-protein: Bioplastics are the real agrifoodtech opportunity, The rise of the reused machines: Germanys E-Farm raises $5.3m Series A. AppHarvest Went From Seed to $1 Billion in Just 3 Years I like thinking about a future where AppHarvest and companies like you all are helping make our food supply not only here domestically, but really around the world better, more reliable, more transparent. His extensive experience and knowledge in the field have led to his reputation as a leading knee surgeon in the UK. Again, for us, it's about keeping our head down, growing good fruit and vegetables. Notify me of follow-up comments by email. Jonathan Webb, AppHarvest Inc: Profile and Biography He noted that in traditional agriculture, most everything happens incrementally, But now is not a time for incrementalism the thing that needs to be added to that recipe is folks [like Webb] that want to be aggressive in getting us ready for a world where its hard to grow crops.. We don't want to be selling just to the high-end. I know you're busy. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice| Do Not Sell/Share My Personal Information| Ad Choices San Francisco Bay Area, Silicon Valley), Total number of current Jobs the person has, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs, Number of news articles that reference the Person, How AppHarvest Is Investing in the First Generation of High-Tech Farmers, AppHarvest May Not Be a Tasty Investment Yet, Agtech company AppHarvest debuts produce in select grocery stores, AppHarvest hires Impossible Foods David Lee as president, AppHarvest hires chief communications officer, Watch NASAs James Webb Space Telescope do high-tech origami, Varsity Spirits Webb on Bolstering the Middle Class, Jimmy Webb, Purveyor of Punk Fashion, Is Dead at 62, James Webb Space Telescope Successfully Deploys Its Mirror for the First Time. Let's let the consumer of our product also be the buyer in our company. Jonathan received his bachelors degree from the University of Kentucky. Appharvest has My competition in Mexico, you have people getting paid $5 a day. Jonathan Webb grew up in Kentucky and has been committed to developing 2023 Fortune Media IP Limited. He practices at Mayo Clinic Hospital Eau Claire. His vision of the future of farming and much, much more. So the problem at a macro level just started with hearing the statistic [that humanity will need] 50% to 70% more food by 2050. You can also follow him on Instagram. Project Access, Inc. was founded by Mr. Webb in 1999. I fundamentally do not think its a tradeoff. Then by the end of the year in 2022, we'll have five facilities operating. People are becoming more and more aware of where they get stuff and for people that question how quickly a sector can transition, I have a lot of friends that worked in the coal industry. If you look at the grocery and then you go, wait a second. Founder of AppHarvest, Inc., AppHarvest Morehead Farm LLC and AppHarvest Operations, Inc., Jonathan Webb is an entrepreneur who is Chairman & Chief Executive Officer of AppHarvest, Inc. and Chairman & Chief Executive Officer of AppHarvest Operations, Inc. (a subsidiary of AppHarvest, Inc.). 95% of a fruit and vegetable is water. He has successfully completed over 200 operations using the Mako machine. We look forward to providing you with even more cutting-edge market research, as Topio Networks. He studied history and economics at the University of Cape Town, and obtained a Bachelor of Laws and post-graduate diploma in maritime law from the University of Natal. WebJonathan Mark Webb net worth is $800,000 Jonathan Mark Webb Wiki: Salary, Married, Wedding, Spouse, Family Jonathan Webb is an actor, known for Graffiti Bridge (1990), In Webb is from Kentucky, where 16% of residents are I love your long-term focus. We dont have two planets though, so Webb got creative. Follow her on Twitter at @BrookeDiPalma or email her at bdipalma@yahoofinance.com. He has also held roles in movies and television series. Learn More. Jonathan Webb - Insider Trading Tracker - Fintel Growing up in Appalachia, Jonathan Webb watched the slow decline of the coal industry firsthand. Then Jeff Obin, who is on our board and has been an early investor. WebJonathan Webb. He has over 100 civil and criminal jury trials and has represented clients in counties across Georgia. Use our online form to book an appointment with Dr. Webb. Cell ag experts weigh in, Keep calm and carry on: Navigating the trough of disillusionment for plant-based meat, Its been a very dark week Miyoko Schinner hits back as company accuses her of hatching plot to steal IP, With $3bn in deals, top 10 climate x agrifoodtech startups prove themselves a vital part of climate tech ecosystem, BII eyes full-stack startups, ag marketplaces & embedded financing as it earmarks funds for Africa, Smoke & mirrors, not worth the extra cost: 50 US farmers speak out on carbon markets. Brooke DiPalma is a producer and reporter for Yahoo Finance. Did we help them reach their goals? If I were an investor, Id want my CEO on the ground with the team, not just in an office tower, he said. Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn. This is becoming really a hot-button topic for a lot of investors, rightly so. The company is building some of the largest indoor farms in the world, combining conventional agricultural techniques with todays technology to grow non-GMO, chemical-free produce to be. The Motley Fool recommends AppHarvest, Inc. We've just been selling product for a matter of months. AppHarvest, which went public in February in an IPO that brought it $475 million in gross proceeds, is an ambitious venture. Although his net worth is impressive, its important that you remember that he doesnt have to act alone to be wealthy. AppHarvest Webb: Well, I'll start by saying, anyone that is growing good, clean produce, without harsh chemical pesticides, I try to call them my colleagues, not competitors. The mission-driven approach Webb has prioritized is the companys main selling point both for investors and potential employees, whom he works to lure away from billion-dollar conglomerates. AppHarvest is recovering from a challenging third quarter, in which it reported a net loss of over $17 million; Webb attributes it to hyper-growth. "We have the capital we need and we're focused on building and operating, and just head down on execution," Webb said. To me, at least, it feels like we are at the [] of a disruptive phase here, and a lot of that is thanks to technology. Webb was also the first LPGA player to win $1 million in a single season, finishing first on the year-end money list. A Kentucky native and University of Kentucky graduate, Jonathan Webb is turning his dream of a high-tech farming hub in Appalachia into reality with AppHarvest. Jonathan Webb WebFounder & CEO, AppHarvest Kentucky native and University of Kentucky graduate Jonathan Webb is turning his dream of a high-tech farming hub in Appalachia into reality with AppHarvest. It's the workforce that we're going to use to grow the organization. Let's prove to the world what we're doing through results and even that, our first quarterly earnings call today, there's a level of rigor that you're acquired through the public markets. What makes AppHarvest so unique? That's how quickly the energy industry shifted. This is still a very new space though. We've moved most of our fruit and vegetable production down to Mexico and we're importing and shipping in 2,000 miles. Webb founded AppHarvest in 2017, and the company was certified as a B Corp two years later. 20years ago it was renewable energy. We just have to keep our head down and execute and do our job every day here at AppHarvest. Buy These 2 Stocks in 2023 and Hold for the Next Decade, Warren Buffett's Latest $2.9 Billion Buy Brings His Total Investment in This Stock to $66 Billion in 4 Years, Prediction: These 3 S&P 500 Stocks Will at Least Double in 7 Years, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. Because it is cutting-edge technology. CEOs can get lazy and only worry about the last 90 days; thats easy. We use bees to pollinate our plans. You are speaking our language here at The Fool. I'm Jason Moser, thanks for listening, and we'll see you next week. But the production we've left in the US is being grown in areas that are running out of water. Again to some of your viewers that aren't aware of Root AI just look them up and take a look at some of those videos. Despite the off quarter, Webb has much to celebrate. Purpose At Work: How AppHarvests On A Mission To Help Webb founded AppHarvest in 2017, and the company was certified as a B Corp two years later. WebJonathan Webb, AppHarvest Inc: Profile and Biography - Bloomberg Markets Live Now Bloomberg TV+ Leaders with Lacqua:Mark Read WPP CEO Bloomberg Radio Meet the AppHarvest Going down, scanning the plant, pest, is there a disease, brightness? Since joining HFW in 2004, Mr. Webb has specialized in P&I and FD&D for ship owners. Webb: To put this in perspective, this was our first facility under operations, our flagship facility. We had 22 meetings and had almost 20 yeses. Very few passed on this deal and we eventually had to cancel meetings., Webb describes the SPAC transaction and PIPE financing experience as absolutely phenomenal.. Prior to founding AppHarvest, Jonathan supported the Executive Director of the Army Office of Energy Initiatives to help meet the White House goal of supplying 20% of the Department of Defenses electricity usage from renewable sources by leveraging private sector capital for the projects. We need to all collectively have a much more longer-term viewpoint on how we're building companies that are going to be good for communities, good for employees, and return a good return to our investors and shareholders. The world's food and agriculture problems are not going to be solved overnight. He has a particular interest in knee surgery and sports medicine. Those are always famous last words as we move into some disruptive phase. Jeff Ubben on investing in AppHarvest - CNBC It doesn't need to be one or the other, it needs to be both, and we're happy to be a bit of a public benefit corporation and B Corp certified. The first harvest at its Morehead facility is slated for early 2021. We can better understand what product we are going to have available? Jonathan Webb - Founder & CEO @ AppHarvest When is it going to be able to ship? We have high demand for U.S.-grown and pesticide-free produce already, and when you combine that with the taste, color, and freshness of the AppHarvest model, on top of their social mission, it's driving our customers to ask for more." I asked on a call earlier today, well, have you had issues hiring people? Just wondering if you could share some of the highlights, some of the things you're proud of in regard to this earnings release, and your excitement here for the year to come. Despite IPOs last year having the worst returns in a decade, Webb said he believed 2021 was an important time for the company to go public and stood by the decision to take the company's mission "directly to the Street" and to receive the "rigor of Wall Street early," which he claimed will only make the company "stronger in the long run.". According to Webb, going public has helped the company focus on the big picture. It made good logistical sense since Kentucky is within a days drive of 70% of the United States, plus there was an untapped labor force there ready and waiting to be hired. The agriculture-tech startup raised $250,000 in its first round of seed capital in February 2018, AppHarvest CEO and founder Jonathan Webb told Insider. It's so cool to think about what you guys are doing there. in August is launching what it describes as the worlds largest greenhouse later this year, consisting of a 2.76 million square foot facility in Morehead, Kentucky. For young people, we've invested heavily in high school education here in this region and part of it is, we're not just building facilities, we're building an ecosystem and part of that is change the narrative that farming is simply outdoors and on a tractor, we very much respect American farmers, we have great respect for the four-season farmer that's putting food on our table but we have to get young people to think, the average age of the American farmer is about 60 years old, and so for us by investing in high schools, it's teaching young people you're operating a farm with an iPhone and iPad using industrial sensors, with robotics operating on AI. He often sleeps in an RV outside the construction site of its second facility. Moser: That's exciting. Moser: Well, you said it on the call. Yes, maybe we're paying marginally more in the short-term, but that workforce is the one that's beating production targets daily. Tomatoes will be the first fruit rolling out of AppHarvest's soon-to-launch facility in Morehead, Kentucky. The greenhouse will cost $97 million and span 60 acres. Moser: It's impressive to think about the scope of what you are taking on because agriculture, farming, that's been something for so long, people just think, well, it's just what it's always been and we do it this way because that's the way we've always done it. AppHarvest raised over $475 million in a public IPO, but it is not over. We thought in order to build an organization that's going to be selling to the top grocers. Offers may be subject to change without notice. AppHarvest: Transforming The Future Of Agtech, And Maybe The Webb is a consistent presence at the companys flagship greenhouse in Morehead. This year alone, more than 50 SPACs have been formed in the US, collectively raising. The system it uses reportedly reduces water usage by 90% compared to traditional open-field agriculture, while also eliminating runoff.

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